Great news for the community in and around Sidney!
The intersection of the Pat Bay Highway and Beacon Avenue is about to look a lot different in a few years after the Town of Sidney approved a new 140-unit rental building, where 28 of the 140 units will be marked at 20% below market value for the next 20 years.
The building will be five-storeys, located on the northwest corner of Beacon Avenue West and Highway 17—across from where a new hotel is being constructed.
“This is an important housing development for the community,” said Mayor Cliff McNeil Smith.
“It is the second time in a generation that purpose-built rental housing has been developed in Sidney with below-market rental units.”
The chosen lot is one of the last vacant properties in the community and will help meet housing needs as well as support Sidney’s economy and growing population.
The development is aligned with the Official Community Plan, which saw this site as an opportunity to bring in a higher density of multi-family residential development.
The project is being led by the Kothari Group, the same company constructing a new 129-room TownePlace Suites by Marriott across the intersection.
The three-story all-suite hotel will offer a range of studio, one-bedroom, and two-bedroom units complete with fully equipped kitchens. The facility will include amenities such as a fitness center, swimming pool, and 1,500 square feet of meeting space.
Additionally, the development will house a full-service restaurant, with the brand reveal anticipated in the near future.
Construction of the hotel is under way and is slated to be completed by 2025. No details have been released as of yet on when construction will begin on the housing project.
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